Alternatives To M&A - Are small-cap, buy-side folks are intuitively against all acquisitions?

Even “one-offs”?

Not at all; when two companies wish to collaborate in some way to accomplish similar objectives, there is a wide range of corporate transaction structures to consider—M&A is just one option. The precise structure that might work best in any given situation may depend on a wide variety of factors.

Instead of a merger or acquisition, the companies might be able to achieve their goals through a joint venture or even less formal relationship.

Factors to consider include:

• How much influence does one party want over the other’s corporate decision making, and how receptive is the other side to that request?
   
• How much capital does each party have and does each party need?
   
• How committed is each party to the collaboration?
   
• How closely integrated should the collaboration be, and must that integration be permanent?